Disney+ has topped the expectations of its mother company as it brings a record-breaking 116 million paid subscribers for the Q3 report it recently released. Here, it shows a massive strength in numbers, as it continues with its subscription service for people to enjoy. Moreover, it shows a massive challenge to Netflix with its services.
2020 was the debut year for Disney+ but it has quickly risen to prominence with its popular shows like "The Mandalorian," and Marvel's limited series with "WandaVision," "The Falcon and The Winter Soldier," and "Loki."
Disney+ Record-Breaking 116 million Paid Subscribers
As quarterly reports go, the companies report to their investors everything that has happened in the past few months, especially with how they performed on the current market. For the year-old Disney+, it is a remarkable one, as it reports a 116 million paid subscriber count, and it has beaten Wall Street expectations of 114.5 million.
The company has only released its Investor Relations webcast for August 12, and while it may be later than other tech companies, Disney brings a tide of good news for its investors. For the Q3 of the Fiscal Year 2021, Disney has achieved $17.02 billion in earnings, compared to the $16.76 billion expectations of the company.
This was also brought in by the help of the return of Disney Parks, which has added several attractions to its facilities including that of the Avengers Campus, and the upcoming Star Wars Galactic Starcruiser experience.
Disney+ Poses Challenge to Netflix
The Disney+ streaming service has been prosperous for a long-time now, especially with its award-winning shows like "WandaVision." It also recently released a Marvel feature film that went directly to streaming with the title known as "Black Widow" with Scarlett Johansson.
With that being said, Disney+ has racked up a lot of revenue for the company, and the streaming itself has grown over the year. Its growth is a massive thing for its competitors, as the streaming market has another competitor to think about, and Disney+ poses a challenge to them.
Netflix is one of its main competitors, and that has been evident as the company is looking for another venture, particularly towards gaming to regain its lost subscribers.
The future of Disney+ is bright, especially as the mother company aims to develop more shows and movies that would be released via the subscription service.
That includes a variety of upcoming Marvel titles including the likes of "Loki" Season 2, "Marvel's What If," and a large possibility of "The Eternals" going straight to the streaming service due to the pandemic restrictions.
This article is owned by Tech Times
Written by Isaiah Richard